cannabis and crypto in 2022
cannabis and crypto in 2022

Beyond 2022 with Cannabis and Crypto - Should the Marijuana Industry Adopt Crypto Starting Immediately?

With the Safe Banking Act dead on arrival, is crypto the future of marijuana transactions?

Posted by:
Reginald Reefer on Friday Dec 17, 2021

cannabis and crypto past 2022

There is no denying that we’re entering into a “new era”. I’m still not sure whether it’s going to utopic or dystopic in nature, but it has become painfully obvious that what was is fading away into the history books and what is to come is knocking on the front door.


I’m not talking about the end times or anything of the sorts. Rather, I believe that what we are seeing happening before our very eyes – the lunacy of existence as we know it – is a clash of ideas. It’s old paradigms clashing with new ones, it’s with generations passing away and the pages of our history books jotting down a very specific division in timelines.


What we are experiencing right now is as important as the Renaissance, the Industrial Revolution and so forth. We have reached a point in modern human history where we are more connected than ever. We can seemingly buy anything with the click of a button and are at the brink of a new technological leap.


What comes next will be anyone’s guess. I’m sure there are some tech billionaires that are plotting their perfect future, however – just as people thought that the internet would never catch one, so will this next leap in innovation change us forevermore.


One of the core conflict of ideas occurring in the world currently is that of currency, specifically that of Crypto vs FIAT.


Interestingly, this debate overlaps with the resurrection of the cannabis industry. Due to the current “federal and international illegitimacy of cannabis”, banks are not allowing cannabis companies to do business with them. Of course, this has changed over the years but until it is legal federally – banks will continue to be reluctant about moving forward due to “fears of prosecution.” At least, this is the reason we’re given.


The banks are heavily regulated, costly, slow and set up to favor the affluent. This is partly why Bitcoin was invented in the first place. To displace the banking system and decentralize currency. While crypto hasn’t quite found its place yet, perhaps the cannabis industry could be the catalyst that ushers in the age of Crypto Banking.


How would a Canna Crypto World Work?


While I certainly am NO expert on crypto – not by a long shot – I’m far better at interpreting human behavior. I’m fantastic at analyzing systems and making sense out of seemingly abstract things. Using my limited understanding on the optimal crypto systems available today – I believe that there would need to be a few elements needed to make it a success.


These things would be;


  • A designated Crypto Currency – this could be a well established one such as Ethereum or Bitcoin, however it could also be an industry specific coin which would be adopted by all of the supply chain. The value of this currency would probably be weighed against the US dollar for comparison, however market norms would potentially form over time excluding the FIAT reference entirely.

  • A central app or marketplace – Apart from the crypto currency, you’d probably need some sort of point of sale system and marketplace. This may already exists, and in that case mass adoption would be required. You’d need a “standardized system” and the more decentralized the better.

  • Willing Consumers – This might not be too difficult if the previous two systems are locked into place and trusted by the majority. If it “works” and makes the life of a customer easier, giving them more anonymity with their purchases – adoption should happen rather quickly. Perhaps as simple as the “right app” once all the legal red tape is removed.


Of course, I’m sure there are millions of other things I’m not even aware of. However, this in my opinion would be the bare bones needed to have a cannabis marketplace for consumers and retailers. You’d probably have a different marketplace for industrial shopping – but all of those will naturally occur as a result of market force.


Beyond Monetary exchanges


Blockchain goes beyond currency – we’re only scratching the surface of the technology. However, some of the more obvious applications include encryption, data storage, licensing, tracking, and things we haven’t invented yet.


Blockchain will most certainly become standard practice in the world over the coming years. Couple this with the rise in robotics and interstellar travel – we’re certainly looking at a brave new world. How AI and precision farming will impact the cannabis industry is certainly going to be an interesting development.


Is it all a pipe dream?


No one can say for certain how things will play out in the long run. These past two years have revealed to us the fragility of societal order, and how easily we abandon our common sense when faced with danger.


However, it is within these mad times that great changes are birthed and when the systems of old give out under the pressure of progress, we might see a new world where all our monetary exchanges are done on this technology.


I personally subscribe to a more decentralized world, in the sense of power dynamics. If blockchain can help us lift the pressure of the boot that’s on our necks, protect individual rights from major corporate entities – I’m game!








What did you think?

ganja leaf left  Keep reading... click here  ganja leaft right

Please log-in or register to post a comment.

Leave a Comment: